BRITISH TRADE.

Hokitika Guardian, 19 April 1922, Page 1

BRITISH TRADE.

FORTS' T GHTLY REVIEW

THE STOCK EXCHANGE.

LONDON, April 15

The Stock Exchange closed for the holidays in a most cheerful mood, thanks to the Bank of England’s Easter gift in the shape of a reduction of the bank rate, which surprised everyone as it was not expected till next week. The markets did not respond immediately the reduction was announced, but later there was considerable buoyancy. Most prices closed at the top level, with business broadening in every department. Even before the reduction, the markets had been unusually active in marked contrast to the dullness which is generally apparent on the eve of the Easter vacation. All departments were brisk, with prices tending upwards. This was most noticeable in investment securities, but speculative stocks also were receiving support. largely of foreign origin. There seems to be a prospect of an early revival in speculative activity for the Stock Exchange Committee announces that, subject to confirmation at a meet ing on May 15th. it will repeal the temporary emergency regulations which have been in force since January 1,915. If this is confirmed it will mean that the Stock Exchange will revert, probably early in June, to pre-war practices regarding fortnightly settlements of contangos, except in British funds, and colonial and provincial Government securities, which are excluded from the new arrangement, been use the expected huge- increase in the volume of business in gilt-edgeds as a- result of the war issues would make business unwieldy. This exclusion is meeting with much opposition from members of the Stock Exchange and may cause the committee to postpone confirmation.